Search results for: future demand
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 9688

Search results for: future demand

9598 Demand for Index Based Micro-Insurance (IBMI) in Ethiopia

Authors: Ashenafi Sileshi Etefa, Bezawit Worku Yenealem

Abstract:

Micro-insurance is a relatively new concept that is just being introduced in Ethiopia. For an agrarian economy dominated by small holder farming and vulnerable to natural disasters, mainly drought, the need for an Index-Based Micro Insurance (IBMI) is crucial. Since IBMI solves moral hazard, adverse selection, and access issues to poor clients, it is preferable over traditional insurance products. IBMI is being piloted in drought prone areas of Ethiopia with the aim of learning and expanding the service across the country. This article analyses the demand of IBMI and the barriers to demand and finds that the demand for IBMI has so far been constrained by lack of awareness, trust issues, costliness, and the level of basis risk; and recommends reducing the basis risk and increasing the role of government and farmer cooperatives.

Keywords: agriculture, index based micro-insurance (IBMI), drought, micro-finance institution (MFI)

Procedia PDF Downloads 261
9597 Development of a Forecast-Supported Approach for the Continuous Pre-Planning of Mandatory Transportation Capacity for the Design of Sustainable Transport Chains: A Literature Review

Authors: Georg Brunnthaller, Sandra Stein, Wilfried Sihn

Abstract:

Transportation service providers are facing increasing volatility concerning future transport demand. Short-term planning horizons and planning uncertainties lead to reduced capacity utilization and increasing empty mileage. To overcome these challenges, a model is proposed to continuously pre-plan future transportation capacity in order to redesign and adjust the intermodal fleet accordingly. It is expected that the model will enable logistics service providers to organize more economically and ecologically sustainable transport chains in a more flexible way. To further describe these planning aspects, this paper gives an overview on transportation planning problems in a structured way. The focus is on strategic and tactical planning levels, comprising relevant fleet-sizing, service-network-design and choice-of-carriers-problems. Models and their developed solution techniques are presented, and the literature review is concluded with an outlook to our future research directions.

Keywords: freight transportation planning, multimodal, fleet-sizing, service network design, choice of transportation mode, review

Procedia PDF Downloads 289
9596 Housing Loans Determinants before and during Financial Crisis

Authors: Josip Visković, Ana Rimac Smiljanić, Ines Ivić

Abstract:

Housing loans play an important role in CEE countries’ economies. This fact is based on their share in total loans to households and their importance for economic activity and growth in CEE countries. Therefore, it is important to find out key determinants of housing loans demand in these countries. The aim of this study is to research and analyze the determinants of the demand for housing loans in Croatia. In this regard, the effect of economic activity, loan terms and real estate prices were analyzed. Also, the aim of this study is to find out what motivates people to take housing loans. Therefore, primarily empirical study was conducted among the Croatian residents. The results show that demand for housing loans is positively affected by economic growth, higher personal income and flexible loan terms, while it is negatively affected by interest rate rise.

Keywords: CEE countries, Croatia, demand determinants, housing loans

Procedia PDF Downloads 326
9595 Subjective Time as a Marker of the Present Consciousness

Authors: Anastasiya Paltarzhitskaya

Abstract:

Subjective time plays an important role in consciousness processes and self-awareness at the moment. The concept of intrinsic neural timescales (INT) explains the difference in perceiving various time intervals. The capacity to experience the present builds on the fundamental properties of temporal cognition. The challenge that both philosophy and neuroscience try to answer is how the brain differentiates the present from the past and future. In our work, we analyze papers which describe mechanisms involved in the perception of ‘present’ and ‘non-present’, i.e., future and past moments. Taking into account that we perceive time intervals even during rest or relaxation, we suppose that the default-mode network activity can code time features, including the present moment. We can compare some results of time perceptual studies, where brain activity was shown in states with different flows of time, including resting states and during “mental time travel”. According to the concept of mental traveling, we employ a range of scenarios which demand episodic memory. However, some papers show that the hippocampal region does not activate during time traveling. It is a controversial result that is further complicated by the phenomenological aspect that includes a holistic set of information about the individual’s past and future.

Keywords: temporal consciousness, time perception, memory, present

Procedia PDF Downloads 37
9594 Meat Products Demand in Oyo West Local Government: An Application of Almost Ideal Demand System (LA/AIDS)

Authors: B. A. Adeniyi, S. A. Daud, O. Amao

Abstract:

The study investigates consumer demand for meat products in Oyo West Local Government using linear approximate almost ideal demand system (LA/AIDS). Questions that were addressed by the study include: first, what is the type and quantity of meat products available to the household and their demand pattern? Second is the investigation of the factors that affect meat products demand pattern and proportion of income that is spent on them. For the above purpose cross-sectional data were collected from 156 households of the study area and analyzed to reveal the functional relationship between meat products consumption and some socio-economic variables of the household. Results indicated that per capita meat consumption increased as household income and education increased but decreased with age. It was also found that male tend to consume more meat products than their female counterparts and that increase in household size will first increased per caput meat consumption but later decreased it. Price also tends to greatly influence the demand pattern of meat products. The results of elasticity computed from the results of regression analysis revealed that own price elasticity for all meat products were negative which indicated that they were normal products while cross and expenditure elasticity were positive which further confirmed that meat products were normal and substitute products. This study therefore concludes that the relevance of these variables imposed a great challenge to the policy makers and the government, in the sense that more cost effective methods of meat production technology have to be devised in other to make consumption of meat products more affordable.

Keywords: meat products, consumption, animal production, technology

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9593 Ideal School of the Future from the Parents´ View: Quantitative Research of Faculty of Education of the University of Hradec Králové

Authors: Yveta Pohnětalová

Abstract:

The topic of possible forms of future schools according to rapid changes of life in the 21st century has become to reach several economic and social prognoses. In our research, we have tried to find out what the future school form is according to pupils’ parent’s view. School is a part of life of each person and based on own experience there is a certain individual picture created about a possible look of future education. The aim of our quantitative research was to find out how parents of first grade primary school pupils see the ideal school of the future. The quantitative research realized at the Faculty of Education of the University of Hradec Králové (Czech Republic). By statistical analysis of gained data from 120 respondents, there have been several views of schools of future identified in terms of mission and also the way of education. But a common indicator according to addressed parents would be more focused on the overall personality development rather than the field practice which is related to a realistic idea that school of the future is not and will not be the only source of education.

Keywords: parents’ approach, school of the future, survey, ways of education

Procedia PDF Downloads 210
9592 Product Line Design with Customization in the Presence of Demand Uncertainty

Authors: Parisa Bagheri Tookanlou

Abstract:

In this paper, we analyze a product line design problem faced by a manufacturing firm where the product line consists of a customized product in addition to a standard product and is offered in a market in which customers are heterogeneous on aesthetic attributes of the product. The customization level of a product is defined by the fraction of aesthetic attributes of the product that the manufacturer chooses to customize. In contrast to the existing literature on product line design that predominantly assumes deterministic demand, we consider the presence of demand uncertainty and frame the product line design problem in a single period (news vendor) setting. We examine the effect of demand uncertainty on product line decisions. Furthermore, we also examine how product line decisions are influenced by channel structure. While we use the centralized channel as a benchmark, we consider the decentralized dual channel where the customized product is sold through an online channel owned by the manufacturer and the standard product is sold through a retailer. We introduce a supply contract between the manufacturer and the retailer for improving channel efficiency and coordinate the distribution channel.

Keywords: product line design, demand uncertainty, customization level, distribution channel

Procedia PDF Downloads 153
9591 Do Clawback Provisions Increase the Demand for Audit Service?

Authors: Yu-Chun Lin

Abstract:

This study examines whether the adoption of clawback provisions increases the demand for audit service. We use abnormal audit fees to proxy for the demand for audit service. Because firms’ voluntary adoption of the clawback provisions is endogenously determined, this study controls for this bias using the propensity-score matching technique. Based on 1,247 U.S. firms that voluntarily adopt clawback provisions during 2003-2013 and a matched sample, the empirical results show that clawback provisions adoption is associated with abnormal audit fees, especially by firms with higher likelihood of misstatements. When firm executives are overconfident, abnormal audit fees increase subsequent to clawback provisions adoption. Since regulators require listed firms to adopt recoupment policy after 2015 in U.S., the evidence about higher demand for audit service might provide political implications for mandatory clawback provisions.

Keywords: clawback provisions, audit service, audit fees, overconfidence

Procedia PDF Downloads 353
9590 An Inventory Management Model to Manage the Stock Level for Irregular Demand Items

Authors: Riccardo Patriarca, Giulio Di Gravio, Francesco Costantino, Massimo Tronci

Abstract:

An accurate inventory management policy acquires a crucial role in the several high-availability sectors. In these sectors, due to the high-cost of spares and backorders, an (S-1, S) replenishment policy is necessary for high-availability items. The policy enables the shipment of a substitute efficient item anytime the inventory size decreases by one. This policy can be modelled following the Multi-Echelon Technique for Recoverable Item Control (METRIC). The METRIC is a system-based technique that allows defining the optimum stock level in a multi-echelon network, adopting measures in line with the decision-maker’s perspective. The METRIC defines an availability-cost function with inventory costs and required service levels, using as inputs data about the demand trend, the supplying and maintenance characteristics of the network and the budget/availability constraints. The traditional METRIC relies on the hypothesis that a Poisson distribution well represents the demand distribution in case of items with a low failure rate. However, in this research, we will explore the effects of using a Poisson distribution to model the demand of low failure rate items characterized by an irregular demand trend. This characteristic of a demand is not included in the traditional METRIC formulation leading to the need of revising its traditional formulation. Using the CV (Coefficient of Variation) and ADI (Average inter-Demand Interval) classification, we will define the inherent flaws of Poisson-based METRIC for irregular demand items, defining an innovative ad hoc distribution which can better fit the irregular demands. This distribution will allow defining proper stock levels to reduce stocking and backorder costs due to the high irregularities in the demand trend. A case study in the aviation domain will clarify the benefits of this innovative METRIC approach.

Keywords: METRIC, inventory management, irregular demand, spare parts

Procedia PDF Downloads 317
9589 Effective Affordable Housing Finance in Developing Economies: An Integration of Demand and Supply Solutions

Authors: Timothy Akinwande, Eddie Hui, Karien Dekker

Abstract:

Housing the urban poor remains a persistent challenge, despite evident research attention over many years. It is, therefore, pertinent to investigate affordable housing provision challenges with novel approaches. For innovative solutions to affordable housing constraints, it is apposite to thoroughly examine housing solutions vis a vis the key elements of the housing supply value chain (HSVC), which are housing finance, housing construction and land acquisition. A pragmatic analysis will examine affordable housing solutions from demand and supply perspectives to arrive at consolidated solutions from bilateral viewpoints. This study thoroughly examined informal housing finance strategies of the urban poor and diligently investigated expert opinion on affordable housing finance solutions. The research questions were: (1) What mutual grounds exist between informal housing finance solutions of the urban poor and housing expert solutions to affordable housing finance constraints in developing economies? (2) What are effective approaches to affordable housing finance in developing economies from an integrated demand - supply perspective? Semi-structured interviews were conducted in the 5 largest slums of Lagos, Nigeria, with 40 informal settlers for demand-oriented solutions, while focus group discussion and in-depth interviews were conducted with 12 housing experts in Nigeria for supply-oriented solutions. Following a rigorous thematic, content and descriptive analyses of data using NVivo and Excel, findings ascertained mutual solutions from both demand and supply standpoints that can be consolidated into more effective affordable housing finance solutions in Nigeria. Deliberate finance models that recognise and include the finance realities of the urban poor was found to be the most significant supply-side housing finance solution, representing 25.4% of total expert responses. Findings also show that 100% of sampled urban poor engage in vocations where they earn little irregular income or zero income, limiting their housing finance capacities and creditworthiness. Survey revealed that the urban poor are involved in community savings and employ microfinance institutions within the informal settlements to tackle their housing finance predicaments. These are informal finance models of the urban poor, revealing common grounds between demand and supply solutions for affordable housing financing. Effective, affordable housing approach will be to modify, institutionalise and incorporate the informal finance strategies of the urban poor into deliberate government policies. This consolidation of solutions from demand and supply perspectives can eliminate the persistent misalliance between affordable housing demand and affordable housing supply. This study provides insights into mutual housing solutions from demand and supply perspectives, and findings are informative for effective, affordable housing provision approaches in developing countries. This study is novel in consolidating affordable housing solutions from demand and supply viewpoints, especially in relation to housing finance as a key component of HSVC. The framework for effective, affordable housing finance in developing economies from a consolidated viewpoint generated in this study is significant for the achievement of sustainable development goals, especially goal 11 for sustainable, resilient and inclusive cities. Findings are vital for future housing studies.

Keywords: affordable housing, affordable housing finance, developing economies, effective affordable housing, housing policy, urban poor, sustainable development goal, sustainable affordable housing

Procedia PDF Downloads 39
9588 Hybrid Wavelet-Adaptive Neuro-Fuzzy Inference System Model for a Greenhouse Energy Demand Prediction

Authors: Azzedine Hamza, Chouaib Chakour, Messaoud Ramdani

Abstract:

Energy demand prediction plays a crucial role in achieving next-generation power systems for agricultural greenhouses. As a result, high prediction quality is required for efficient smart grid management and therefore low-cost energy consumption. The aim of this paper is to investigate the effectiveness of a hybrid data-driven model in day-ahead energy demand prediction. The proposed model consists of Discrete Wavelet Transform (DWT), and Adaptive Neuro-Fuzzy Inference System (ANFIS). The DWT is employed to decompose the original signal in a set of subseries and then an ANFIS is used to generate the forecast for each subseries. The proposed hybrid method (DWT-ANFIS) was evaluated using a greenhouse energy demand data for a week and compared with ANFIS. The performances of the different models were evaluated by comparing the corresponding values of Mean Absolute Percentage Error (MAPE). It was demonstrated that discret wavelet transform can improve agricultural greenhouse energy demand modeling.

Keywords: wavelet transform, ANFIS, energy consumption prediction, greenhouse

Procedia PDF Downloads 57
9587 Energy Policy and Interactions with Politics and Economics

Authors: A. Beril Tugrul

Abstract:

Demand on production and thereby the global need of energy is growing continuously. Each country has different trends on energy demand and supply according to their geopolitical and geographical locations, underground reserves, weather conditions and level of industrialization. Conventional energy resources such as oil, gas and coal –in other words fossil resources- remain dominant on primary energy supply in spite of causing of environmental problems. Energy supply and demand securities are essential within the energy importing and exporting countries. This concept affected all sectors, but especially impressed on political aspects of the countries and also global economic views.

Keywords: energy policy, energy economics, energy strategy, global trends, petro-dollar recycling

Procedia PDF Downloads 445
9586 System-Wide Impact of Energy Efficiency in the Industry Sector: A Comparative Study between Canada and Denmark

Authors: M. Baldini, H. K. Jacobsen, M. Jaccard

Abstract:

In light of the international efforts to comply with the Paris agreement and emission targets for future energy systems, Denmark and Canada are among the front-runner countries dealing with climate change. The experiences in the energy sector have seen both countries coping with trade-offs between investments in renewable energy technologies and energy efficiency, thus tackling the climate issue from the supply and demand side respectively. On the demand side, the industrial sector is going through a remarkable transformation, with implementation of energy efficiency measures, change of input fuel for end-use processes and forecasted electrification as main features under the spotlight. By looking at Canada and Denmark's experiences as pathfinders on the demand and supply approach to climate change, it is possible to obtain valuable experience that may be applied to other countries aiming at the same goal. This paper presents a comparative study on industrial energy efficiency between Canada and Denmark. The study focuses on technologies and system options, policy design and implementation and modelling methodologies when implementing industrial energy savings in optimization models in comparison to simulation models. The study identifies gaps and junctures in the approach towards climate change actions and, learning from each other, lessen the differences to further foster the adoption of energy efficiency measurements in the industrial sector, aiming at reducing energy consumption and, consequently, CO₂ emissions.

Keywords: industrial energy efficiency, comparative study, CO₂ reduction, energy system modelling

Procedia PDF Downloads 140
9585 eTransformation Framework for the Cognitive Systems

Authors: Ana Hol

Abstract:

Digital systems are in the cognitive wave of the eTransformations and are now extensively aimed at meeting the individuals’ demands, both those of customers requiring services and those of service providers. It is also apparent that successful future systems will not just simply open doors to the traditional owners/users to offer and receive services such as Uber for example does today, but will in the future require more customized and cognitively enabled infrastructures that will be responsive to the system user’s needs. To be able to identify what is required for such systems, this research reviews the historical and the current effects of the eTransformation process by studying: 1. eTransitions of company websites and mobile applications, 2. Emergence of new sheared economy business models as Uber and, 3. New requirements for demand driven, cognitive systems capable of learning and just in time decision making. Based on the analysis, this study proposes a Cognitive eTransformation Framework capable of guiding implementations of new responsive and user aware systems.

Keywords: system implementations, AI supported systems, cognitive systems, eTransformation

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9584 Quantifying Spatiotemporal Patterns of Past and Future Urbanization Trends in El Paso, Texas and Their Impact on Electricity Consumption

Authors: Joanne Moyer

Abstract:

El Paso, Texas is a southwest border city that has experienced continuous growth within the last 15-years. Understanding the urban growth trends and patterns using data from the National Land Cover Database (NLCD) and landscape metrics, provides a quantitative description of growth. Past urban growth provided a basis to predict 2031 future land-use for El Paso using the CA-Markov model. As a consequence of growth, an increase in demand of resources follows. Using panel data analysis, an understanding of the relation between landscape metrics and electricity consumption is further analyzed. The studies’ findings indicate that past growth focused within three districts within the City of El Paso. The landscape metrics suggest as the city has grown, fragmentation has decreased. Alternatively, the landscape metrics for the projected 2031 land-use indicates possible fragmentation within one of these districts. Panel data suggests electricity consumption and mean patch area landscape metric are positively correlated. The study provides local decision makers to make informed decisions for policies and urban planning to ensure a future sustainable community.

Keywords: landscape metrics, CA-Markov, El Paso, Texas, panel data

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9583 Woodfuels as Alternative Source of Energy in Rural and Urban Areas in the Philippines

Authors: R. T. Aggangan

Abstract:

Woodfuels continue to be a major component of the energy supply mix of the Philippines due to increasing demand for energy that are not adequately met by decreasing supply and increasing prices of fuel oil such as liquefied petroleum gas (LPG) and kerosene. The Development Academy of the Philippines projects the demand of woodfuels in 2016 as 28.3 million metric tons in the household sector and about 105.4 million metric tons combined supply potentials of both forest and non-forest lands. However, the Revised Master Plan for Forestry Development projects a demand of about 50 million cu meters of fuelwood in 2016 but the capability to supply from local sources is only about 28 million cu meters indicating a 44 % deficiency. Household demand constitutes 82% while industries demand is 18%. Domestic household demand for energy is for cooking needs while the industrial demand is for steam power generation, curing barns of tobacco: brick, ceramics and pot making; bakery; lime production; and small scale food processing. Factors that favour increased use of wood-based energy include the relatively low prices (increasing oil-based fuel prices), availability of efficient wood-based energy utilization technology, increasing supply, and increasing population that cannot afford conventional fuels. Moreover, innovations in combustion technology and cogeneration of heat and power from biomass for modern applications favour biomass energy development. This paper recommends policies and strategic directions for the development of the woodfuel industry with the twin goals of sustainably supplying the energy requirements of households and industry.

Keywords: biomass energy development, fuelwood, households and industry, innovations in combustion technology, supply and demand

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9582 Overview of Different Approaches Used in Optimal Operation Control of Hybrid Renewable Energy Systems

Authors: K. Kusakana

Abstract:

A hybrid energy system is a combination of renewable energy sources with back up, as well as a storage system used to respond to given load energy requirements. Given that the electrical output of each renewable source is fluctuating with changes in weather conditions, and since the load demand also varies with time; one of the main attributes of hybrid systems is to be able to respond to the load demand at any time by optimally controlling each energy source, storage and back-up system. The induced optimization problem is to compute the optimal operation control of the system with the aim of minimizing operation costs while efficiently and reliably responding to the load energy requirement. Current optimization research and development on hybrid systems are mainly focusing on the sizing aspect. Thus, the aim of this paper is to report on the state-of-the-art of optimal operation control of hybrid renewable energy systems. This paper also discusses different challenges encountered, as well as future developments that can help in improving the optimal operation control of hybrid renewable energy systems.

Keywords: renewable energies, hybrid systems, optimization, operation control

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9581 Internet Optimization by Negotiating Traffic Times

Authors: Carlos Gonzalez

Abstract:

This paper describes a system to optimize the use of the internet by clients requiring downloading of videos at peak hours. The system consists of a web server belonging to a provider of video contents, a provider of internet communications and a software application running on a client’s computer. The client using the application software will communicate to the video provider a list of the client’s future video demands. The video provider calculates which videos are going to be more in demand for download in the immediate future, and proceeds to request the internet provider the most optimal hours to do the downloading. The times of the downloading will be sent to the application software, which will use the information of pre-established hours negotiated between the video provider and the internet provider to download those videos. The videos will be saved in a special protected section of the user’s hard disk, which will only be accessed by the application software in the client’s computer. When the client is ready to see a video, the application will search the list of current existent videos in the area of the hard disk; if it does exist, it will use this video directly without the need for internet access. We found that the best way to optimize the download traffic of videos is by negotiation between the internet communication provider and the video content provider.

Keywords: internet optimization, video download, future demands, secure storage

Procedia PDF Downloads 113
9580 Forecasting Models for Steel Demand Uncertainty Using Bayesian Methods

Authors: Watcharin Sangma, Onsiri Chanmuang, Pitsanu Tongkhow

Abstract:

A forecasting model for steel demand uncertainty in Thailand is proposed. It consists of trend, autocorrelation, and outliers in a hierarchical Bayesian frame work. The proposed model uses a cumulative Weibull distribution function, latent first-order autocorrelation, and binary selection, to account for trend, time-varying autocorrelation, and outliers, respectively. The Gibbs sampling Markov Chain Monte Carlo (MCMC) is used for parameter estimation. The proposed model is applied to steel demand index data in Thailand. The root mean square error (RMSE), mean absolute percentage error (MAPE), and mean absolute error (MAE) criteria are used for model comparison. The study reveals that the proposed model is more appropriate than the exponential smoothing method.

Keywords: forecasting model, steel demand uncertainty, hierarchical Bayesian framework, exponential smoothing method

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9579 Interplay of Power Management at Core and Server Level

Authors: Jörg Lenhardt, Wolfram Schiffmann, Jörg Keller

Abstract:

While the feature sizes of recent Complementary Metal Oxid Semiconductor (CMOS) devices decrease the influence of static power prevails their energy consumption. Thus, power savings that benefit from Dynamic Frequency and Voltage Scaling (DVFS) are diminishing and temporal shutdown of cores or other microchip components become more worthwhile. A consequence of powering off unused parts of a chip is that the relative difference between idle and fully loaded power consumption is increased. That means, future chips and whole server systems gain more power saving potential through power-aware load balancing, whereas in former times this power saving approach had only limited effect, and thus, was not widely adopted. While powering off complete servers was used to save energy, it will be superfluous in many cases when cores can be powered down. An important advantage that comes with that is a largely reduced time to respond to increased computational demand. We include the above developments in a server power model and quantify the advantage. Our conclusion is that strategies from datacenters when to power off server systems might be used in the future on core level, while load balancing mechanisms previously used at core level might be used in the future at server level.

Keywords: power efficiency, static power consumption, dynamic power consumption, CMOS

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9578 Design of Quality Assessment System for On-Orbit 3D Printing Based on 3D Reconstruction Technology

Authors: Jianning Tang, Trevor Hocksun Kwan, Xiaofeng Wu

Abstract:

With the increasing demand for space use in multiple sectors (navigation, telecommunication, imagery, etc.), the deployment and maintenance demand of satellites are growing. Considering the high launching cost and the restrictions on weight and size of the payload when using launch vehicle, the technique of on-orbit manufacturing has obtained more attention because of its significant potential to support future space missions. 3D printing is the most promising manufacturing technology that could be applied in space. However, due to the lack of autonomous quality assessment, the operation of conventional 3D printers still relies on human presence to supervise the printing process. This paper is proposed to develop an automatic 3D reconstruction system aiming at detecting failures on the 3D printed objects through application of point cloud technology. Based on the data obtained from the point cloud, the 3D printer could locate the failure and repair the failure. The system will increase automation and provide 3D printing with more feasibilities for space use without human interference.

Keywords: 3D printing, quality assessment, point cloud, on-orbit manufacturing

Procedia PDF Downloads 90
9577 The Competitive Newsvendor Game with Overestimated Demand

Authors: Chengli Liu, C. K. M. Lee

Abstract:

The tradition competitive newsvendor game assumes decision makers are rational. However, there are behavioral biases when people make decisions, such as loss aversion, mental accounting and overconfidence. Overestimation of a subject’s own performance is one type of overconfidence. The objective of this research is to analyze the impact of the overestimated demand in the newsvendor competitive game with two players. This study builds a competitive newsvendor game model where newsvendors have private information of their demands, which is overestimated. At the same time, demands of each newsvendor forecasted by a third party institution are available. This research shows that the overestimation leads to demand steal effect, which reduces the competitor’s order quantity. However, the overall supply of the product increases due to overestimation. This study illustrates the boundary condition for the overestimated newsvendor to have the equilibrium order drop due to the demand steal effect from the other newsvendor. A newsvendor who has higher critical fractile will see its equilibrium order decrease with the drop of estimation level from the other newsvendor.

Keywords: bias, competing newsvendor, Nash equilibrium, overestimation

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9576 Application of ANN for Estimation of Power Demand of Villages in Sulaymaniyah Governorate

Authors: A. Majeed, P. Ali

Abstract:

Before designing an electrical system, the estimation of load is necessary for unit sizing and demand-generation balancing. The system could be a stand-alone system for a village or grid connected or integrated renewable energy to grid connection, especially as there are non–electrified villages in developing countries. In the classical model, the energy demand was found by estimating the household appliances multiplied with the amount of their rating and the duration of their operation, but in this paper, information exists for electrified villages could be used to predict the demand, as villages almost have the same life style. This paper describes a method used to predict the average energy consumed in each two months for every consumer living in a village by Artificial Neural Network (ANN). The input data are collected using a regional survey for samples of consumers representing typical types of different living, household appliances and energy consumption by a list of information, and the output data are collected from administration office of Piramagrun for each corresponding consumer. The result of this study shows that the average demand for different consumers from four villages in different months throughout the year is approximately 12 kWh/day, this model estimates the average demand/day for every consumer with a mean absolute percent error of 11.8%, and MathWorks software package MATLAB version 7.6.0 that contains and facilitate Neural Network Toolbox was used.

Keywords: artificial neural network, load estimation, regional survey, rural electrification

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9575 The Role of Inventory Classification in Supply Chain Responsiveness in a Build-to-Order and Build-To-Forecast Manufacturing Environment: A Comparative Analysis

Authors: Qamar Iqbal

Abstract:

Companies strive to improve their forecasting methods to predict the fluctuations in customer demand. These fluctuation and variation in demand affect the manufacturing operations and can limit a company’s ability to fulfill customer demand on time. Companies keep the inventory buffer and maintain the stocking levels to reduce the impact of demand variation. A mid-size company deals with thousands of stock keeping units (skus). It is neither easy and nor efficient to control and manage each sku. Inventory classification provides a tool to the management to increase their ability to support customer demand. The paper presents a framework that shows how inventory classification can play a role to increase supply chain responsiveness. A case study will be presented to further elaborate the method both for build-to-order and build-to-forecast manufacturing environments. Results will be compared that will show which manufacturing setting has advantage over another under different circumstances. The outcome of this study is very useful to the management because this will give them an insight on how inventory classification can be used to increase their ability to respond to changing customer needs.

Keywords: inventory classification, supply chain responsiveness, forecast, manufacturing environment

Procedia PDF Downloads 571
9574 Forecasting Thermal Energy Demand in District Heating and Cooling Systems Using Long Short-Term Memory Neural Networks

Authors: Kostas Kouvaris, Anastasia Eleftheriou, Georgios A. Sarantitis, Apostolos Chondronasios

Abstract:

To achieve the objective of almost zero carbon energy solutions by 2050, the EU needs to accelerate the development of integrated, highly efficient and environmentally friendly solutions. In this direction, district heating and cooling (DHC) emerges as a viable and more efficient alternative to conventional, decentralized heating and cooling systems, enabling a combination of more efficient renewable and competitive energy supplies. In this paper, we develop a forecasting tool for near real-time local weather and thermal energy demand predictions for an entire DHC network. In this fashion, we are able to extend the functionality and to improve the energy efficiency of the DHC network by predicting and adjusting the heat load that is distributed from the heat generation plant to the connected buildings by the heat pipe network. Two case-studies are considered; one for Vransko, Slovenia and one for Montpellier, France. The data consists of i) local weather data, such as humidity, temperature, and precipitation, ii) weather forecast data, such as the outdoor temperature and iii) DHC operational parameters, such as the mass flow rate, supply and return temperature. The external temperature is found to be the most important energy-related variable for space conditioning, and thus it is used as an external parameter for the energy demand models. For the development of the forecasting tool, we use state-of-the-art deep neural networks and more specifically, recurrent networks with long-short-term memory cells, which are able to capture complex non-linear relations among temporal variables. Firstly, we develop models to forecast outdoor temperatures for the next 24 hours using local weather data for each case-study. Subsequently, we develop models to forecast thermal demand for the same period, taking under consideration past energy demand values as well as the predicted temperature values from the weather forecasting models. The contributions to the scientific and industrial community are three-fold, and the empirical results are highly encouraging. First, we are able to predict future thermal demand levels for the two locations under consideration with minimal errors. Second, we examine the impact of the outdoor temperature on the predictive ability of the models and how the accuracy of the energy demand forecasts decreases with the forecast horizon. Third, we extend the relevant literature with a new dataset of thermal demand and examine the performance and applicability of machine learning techniques to solve real-world problems. Overall, the solution proposed in this paper is in accordance with EU targets, providing an automated smart energy management system, decreasing human errors and reducing excessive energy production.

Keywords: machine learning, LSTMs, district heating and cooling system, thermal demand

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9573 Production Planning for Animal Food Industry under Demand Uncertainty

Authors: Pirom Thangchitpianpol, Suttipong Jumroonrut

Abstract:

This research investigates the distribution of food demand for animal food and the optimum amount of that food production at minimum cost. The data consist of customer purchase orders for the food of laying hens, price of food for laying hens, cost per unit for the food inventory, cost related to food of laying hens in which the food is out of stock, such as fine, overtime, urgent purchase for material. They were collected from January, 1990 to December, 2013 from a factory in Nakhonratchasima province. The collected data are analyzed in order to explore the distribution of the monthly food demand for the laying hens and to see the rate of inventory per unit. The results are used in a stochastic linear programming model for aggregate planning in which the optimum production or minimum cost could be obtained. Programming algorithms in MATLAB and tools in Linprog software are used to get the solution. The distribution of the food demand for laying hens and the random numbers are used in the model. The study shows that the distribution of monthly food demand for laying has a normal distribution, the monthly average amount (unit: 30 kg) of production from January to December. The minimum total cost average for 12 months is Baht 62,329,181.77. Therefore, the production planning can reduce the cost by 14.64% from real cost.

Keywords: animal food, stochastic linear programming, aggregate planning, production planning, demand uncertainty

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9572 Optimization of Production Scheduling through the Lean and Simulation Integration in Automotive Company

Authors: Guilherme Gorgulho, Carlos Roberto Camello Lima

Abstract:

Due to the competitive market in which companies are currently engaged, the constant changes require companies to react quickly regarding the variability of demand and process. The changes are caused by customers, or by demand fluctuations or variations of products, or the need to serve customers within agreed delivery taking into account the continuous search for quality and competitive prices in products. These changes end up influencing directly or indirectly the activities of the Planning and Production Control (PPC), which does business in strategic, tactical and operational levels of production systems. One area of concern for organizations is in the short term (operational level), because this planning stage any error or divergence will cause waste and impact on the delivery of products on time to customers. Thus, this study aims to optimize the efficiency of production scheduling, using different sequencing strategies in an automotive company. Seeking to aim the proposed objective, we used the computer simulation in conjunction with lean manufacturing to build and validate the current model, and subsequently the creation of future scenarios.

Keywords: computational simulation, lean manufacturing, production scheduling, sequencing strategies

Procedia PDF Downloads 243
9571 Unified Public Transportation System for Mumbai Using Radio Frequency Identification

Authors: Saurabh Parkhedkar, Rajanikant Tenguria

Abstract:

The paper proposes revamping the public transportation system in Mumbai with the use of Radio Frequency Identification (RFID) technology in order to provide better integration and compatibility across various modes of transport. In Mumbai, mass transport system suffers from poor inter-compatible ticketing system, subpar money collection techniques, and lack of planning for optimum utilization of resources. Development of suburbs and growth in population will result in growing demand for mass transportation networks. Hence, the growing demand for the already overburdened public transportation system is only going to worsen the scenario. Thus, a superior system is essential in order to regulate, manage and supervise future transportation needs. The proposed RFID based system integrates Mumbai Suburban Railway, BEST (Brihanmumbai Electric Supply and Transport Undertaking transport wing) Bus, Mumbai Monorail and Mumbai Metro systems into a Unified Public Transportation System (UPTS). The UTPS takes into account various drawbacks of the present day system and offers solution, suitable for the modern age Mumbai.

Keywords: urbanization, transportation, RFID, Mumbai, public transportation, smart city.

Procedia PDF Downloads 380
9570 Load Management Using Multiple Sequential Load Shaping Techniques

Authors: Amira M. Attia, Karim H. Youssef, Nabil H. Abbasi

Abstract:

Demand Side Management (DSM) is an essential characteristic of current and future smart grid systems. As one of DSM functions, load management aims to control customers’ total electric consumption and utility’s load factor by using various load shaping techniques. However, applying load shaping techniques such as load shifting, peak clipping, or strategic conservation individually does not provide the desired level of improvement for load factor increment and/or customer’s bill reduction. In this paper, two load shaping techniques will be simulated as constrained optimization problems. The purpose is to reflect the application of combined load shifting and strategic conservation model together at the same time, and the application of combined load shifting and peak clipping model as well. The problem will be formulated and solved by using disciplined convex programming (CVX) based MATLAB® R2013b. Simulation results will be evaluated and compared for studying the most impactful multi-techniques model in improving load curve.

Keywords: convex programing, demand side management, load shaping, multiple, building energy optimization

Procedia PDF Downloads 285
9569 The Documentary Analysis of Meta-Analysis Research in Violence of Media

Authors: Proud Arunrangsiwed

Abstract:

The part of “future direction” in the findings of meta-analysis could provide the great direction to conduct the future studies. This study, “The Documentary Analysis of Meta-Analysis Research in Violence of Media” would conclude “future directions” out of 10 meta-analysis papers. The purposes of this research are to find an appropriate research design or an appropriate methodology for the future research related to the topic, “violence of media”. Further research needs to explore by longitudinal and experimental design, and also needs to have a careful consideration about age effects, time spent effects, enjoyment effects, and ordinary lifestyle of each media consumer.

Keywords: aggressive, future direction, meta-analysis, media, violence

Procedia PDF Downloads 378